SPX Credit Spread Trader

Thank you Coach,

so this pain is common. Mine is actually worse because everytime it happens, I get the same questions. While trading my account I don`t even pay attention to those readings, as I use my own spreadsheets.
Nothing to say, I can get better results on my own account due to these limitations in OPM accounts.
 
Man, I gotta say. Trading today has been like watching paint dry.

Coincidently I've been so bored that I've been working on a new painting for my living room. So I'm quite literally watching paint dry, and It's been much more exciting than trading today.
 
I retained one of the accounts I was managing and when the client looks at the monthly statements I always have to do the same explanation. If the market is down on the last day of the month, the account could swing a few percentage points down on the put spreads on marked to market simply the way the broker is valuing the spreads.

Better to check quarterly LOL.....

Quote from ChrisM:

Thank you Coach,

so this pain is common. Mine is actually worse because everytime it happens, I get the same questions. While trading my account I don`t even pay attention to those readings, as I use my own spreadsheets.
Nothing to say, I can get better results on my own account due to these limitations in OPM accounts.
More...
 
Quote from Cache Landing:

Man, I gotta say. Trading today has been like watching paint dry.



It is good, as we can get some rest. Such moves rarely go quiet in a moment.
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The market must have heard me bragging!

KHHHHHHAAAAAAAAAAAAAAAAAAAAAAAAAANNNNNN!


Quote from optioncoach:

I see my credits melting away........

Let's hear it for the sideways market today!

Go SPX..its your birthday.. we gonna decay like its your birthday....
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Quote from optioncoach:

The market must have heard me bragging!

KHHHHHHAAAAAAAAAAAAAAAAAAAAAAAAAANNNNNN!
More...

You know the MMs read this thread, you should have known better! They will now punish us all! :p
 
Quote from optioncoach:

I retained one of the accounts I was managing and when the client looks at the monthly statements I always have to do the same explanation. If the market is down on the last day of the month, the account could swing a few percentage points down on the put spreads on marked to market simply the way the broker is valuing the spreads.

Better to check quarterly LOL.....
More...

This all about managed accounts - everything goes smoothly till the moment people learn how to read statements. Then monthly checking, weekly and finally daily comes up. It becomes a part of the life - like daily teeth brushing... an addiction ? Warnings and explanations don`t work.

That is why many are so excited about new expiration options. This time I`ve checked with CME - European style. ktm found info that they start this Sunday.
 
Quote from ChrisM:

Quote from Cache Landing:

Man, I gotta say. Trading today has been like watching paint dry.



It is good, as we can get some rest. Such moves rarely go quiet in a moment.
More...

Talking about the wolf. From now Im keeping my mouth shut about ......
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Quote from Sailing:

coach,

Diagonal Update:

Our May/June Put Diagonal has far exceeded profit expectations. The 1265 short hopefully will expire worthless... and original $1.60 June Put is now pushing $4.00 Amazing how this volatility trade differs from the credit spread position.

The June/July Put Diagonal opened three days ago has now been converted into a free butterfly.

As we discussed earlier, I really like the idea of placing this position on low volatility.

Securities can move in unlimited directions, but volatilility is range bound.... which makes it a whole lot easier to trade.

thanks go out to Maverick and Riskarb for their enlightment!

M~
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Hey Murray,

How about an update on your diagonals.
 
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